ORLANDO, Fla. — The price of a gallon of gas in Florida is down to its lowest price in a month.
According to AAA, the average price for gasoline in Florida is $4.07 per gallon, down from $4.17 a week ago.
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Mark Jenkins with AAA says gas prices are following a downward trend as crude oil prices continue to fall.
“Oil futures are falling because of global demand concerns related to COVID-19 outbreaks in China. The potential of higher U.S. interest rates and a strengthening dollar have also put downward pressure on petroleum prices,” Jenkins said.
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Last month, the United States and its allies in the International Energy Agency pledged to release nearly 240 million barrels of oil, which is reportedly the largest release of petroleum reserves ever.
On Monday, the U.S. price for oil was at $94.29 per barrel, the lowest price since February.
Daily updates on gas prices can be found here.
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